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14 Patanajali products that have been suspended

Tuesday, April 2: Exaggerated claims of unbelievable results with the use of consumer products are not new in the Indian advertisement industry. But, the law of the land does explicitly prohibit and punish misleading advertisements from time to time. One such case is grabbing headlines of late. <keyword id="20083249" type="General" weightage="20" keywordseo="baba-ramdev" source="keywords">Baba Ramdev</keyword> and <keyword id="20752072" type="General" weightage="20" keywordseo="acharya-balkrishna" source="keywords">Acharya Balkrishna</keyword>, co-founder and managing director of <keyword id="19980518" type="General" weightage="100" keywordseo="patanjali" source="keywords">Patanjali</keyword>, respectively, appeared before the <keyword id="19895345" type="General" weightage="20" keywordseo="supreme-court" source="keywords">Supreme Court</keyword> today for a hearing regarding a case involving misleading advertisements. So, what exactly happened? <cmsannotation type="cmsannotation" annotationid="A case of false and misleading advertisements" comment="subhead" text="A case of false and misleading advertisements">A case of false and misleading advertisements</cmsannotation> The case began in November last year when the Supreme Court, responding to a petition by the Indian Medical Association (IMA), cautioned <keyword id="6406649" type="General" weightage="20" keywordseo="patanjali-ayurved" source="Orion">Patanjali Ayurved</keyword> against airing "false" and "misleading" claims in its advertisements about medicinal products. The IMA cited several ads that allegedly portrayed allopathic medicine and doctors negatively, claiming that companies producing ayurvedic medicines made disparaging remarks to deceive the public. Despite the Supreme Court's cautionary stance and prohibition on advertising products claiming to treat specific ailments under the Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954, Ramdev and Balkrishna reportedly conducted a press conference, once again making misleading claims about Patanjali's ability to cure various conditions permanently. Subsequently, on February 27, the Supreme Court expressed dissatisfaction with Patanjali's continuous dissemination of false advertisements regarding medicinal cures and issued notices to the company, questioning why contempt proceedings should not be initiated. It also chastised the government for not taking action and “sitting with their eyes shut”. On March 21, the Court summoned Baba Ramdev and Balkrishna to personally appear before it on April 2 to address their failure to respond to the contempt notice regarding misleading advertisements about medicinal cures. <cmsannotation type="cmsannotation" annotationid="What’s the latest update?" comment="subhead" text="What’s the latest update?">What’s the latest update?</cmsannotation> In today's hearing, the Supreme Court criticised Ramdev and Balkrishna for their "absolute defiance" in failing to submit proper affidavits of compliance and for disregarding legal directives. The Court also rebuked Patanjali's MD for describing the Drugs and Cosmetics (Magic Remedies) Act as "archaic". Noting that Patanjali's advertisements are in the "teeth of law" of the land, the Court warned Ramdev to prepare for potential consequences. Justices Hima Kohli and Ahsanuddin Amanullah, presiding over the bench, declined to acknowledge the apology extended by Patanjali last month. Subsequently, Ramdev's attorney, reportedly with folded hands, reiterated that both Ramdev and Balakrishna were extending a personal and unconditional apology before the court. Finally, the Court has granted Ramdev and Balkrishna a final opportunity to file affidavits in one week and mandated their presence at the next hearing on April 10.

Government ‘sitting with its eyes shut’, says Supreme Court as Patanjali’s misleading advertisement case drags on

The <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword>, on Tuesday, granted one-week time to yoga guru <keyword id="20055079" type="General" weightage="100" keywordseo="Ramdev" source="keywords">Ramdev</keyword>, his aide <keyword id="21172332" type="General" weightage="20" keywordseo="Balkrishna" source="keywords">Balkrishna</keyword> and <keyword id="20083247" type="General" weightage="20" keywordseo="Patanjali-Ayurved" source="keywords" meta.keywordsubtype="org" meta.entityname="Patanjali Ayurved" meta.hostid="261" meta.entityid="Patanjali Ayurved">Patanjali Ayurved</keyword> to issue a <keyword id="114576" type="General" weightage="20" keywordseo="public-apology" source="Orion">public apology</keyword> in the misleading advertisements case, but said it was not letting them "<keyword id="2308348" type="General" weightage="20" keywordseo="off-the-hook" source="Orion">off the hook</keyword>" now. Both Ramdev and Balkrishna were present during the hearing and personally tendered an unqualified apology to the apex court. A bench of Justices Hima Kohli and Ahsanuddin Amanullah took note of their apologies, but made it clear that at this stage it has not decided to "let them off the hook". "You are doing good work but you can't degrade allopathy," the bench told Balkrishna while interacting with him. Ramdev, who also interacted with the bench, said he had no intention to show disrespect to the court in any manner. However, the bench told Balkrishna that they (<keyword id="6356684" type="General" weightage="20" keywordseo="patanjali" source="Orion">Patanjali</keyword>) are not so innocent that they didn't know what the top court had said in its earlier orders in the case. "I am willing to give a public apology," senior advocate Mukul Rohatgi, appearing for Ramdev and Balkrishna, told the bench at the outset. The apex court asked Ramdev and Balkrishna, both of whom were present in the court, to come forward for an interaction with the bench. "They should feel they have a connect with the court," the bench said. The apex court has now posted the matter for further hearing on April 23. Ramdev and Balkrishna had last week tendered an "unconditional and unqualified apology" before the top court over advertisements issued by the firm making tall claims about the medicinal efficacy of its products. In two separate affidavits filed in the court, Ramdev and Balkrishna have tendered an unqualified apology for the "breach of the statement" recorded in the November 21 last year order of the apex court. In the November 21, 2023 order, the top court had noted that counsel representing Patanjali Ayurved had assured it that "henceforth there shall not be any violation of any law(s), especially relating to advertising or branding of products manufactured and marketed by it and, further, that no casual statements claiming medicinal efficacy or against any system of medicine will be released to the media in any form". The top court had said Patanjali Ayurved Ltd is "bound down to such assurance". The non-observance of the specific assurance and the subsequent media statements irked the apex court, which later issued a notice to them to explain why contempt proceedings be not initiated against them.

Patanjali ads case: Supreme Court asks Ramdev, Balkrishna to issue public apology; says not letting them off hook yet

<ul><li><keyword id="6356684" type="UNKNOWN" weightage="20" keywordseo="patanjali">Patanjali</keyword> chairman Archarya Balkrishna’s estimated net worth was cut down by a third in 2020.</li><li>He now ranks 919th on the <keyword id="424923" type="PERSON" weightage="20" keywordseo="Hurun-rich-list">Hurun Rich List</keyword> after having slipped 489 places.</li><li>The dip in his wealth comes at a time when he is desperately trying to launch <keyword id="9448306" type="UNKNOWN" weightage="20" keywordseo="Coronil">Coronil</keyword>, a medicine he claims is a cure for COVID-19 — a claim, which many dispute. </li></ul>Archarya Balkrishna, the chairman and CEO of Patanjali as well as the right-hand man to yoga guru <keyword id="6355107" type="UNKNOWN" weightage="20" keywordseo="Baba-Ramdev">Baba Ramdev</keyword>, took a massive hit to his wealth during the pandemic. <div type="image" title="5746a6c1b0aa6d17dd0b8657c3e31a3c_edited" msid="81294979" hostid="261" caption="&amp;lt;p&amp;gt;Acharya Balkrishna doing yoga with Baba Ramdev on Yoga Day in 2018 with two lakh people to create a world record for the largest amount of people performing yoga in one place&amp;lt;/p&amp;gt;"></div> According to Hurun’s Rich List 2021, Balkrishna’s estimated net worth dipped by 32% — more than any other Indian billionaire on the list this year in percentage terms. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Balkrishna’s estimated net worth in 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Balkrishna’s estimated net worth in 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.3 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.6 billion </td></tr></tbody></table> <div type="Article" hostid="261" msid="81288884" title="Meet Jay Chaudhry, the man who studied under a tree in Himachal to become one of the world’s top billionaires today" mstype="2" mssubtype="0"></div> Balkrishna has often stated that the underlying vision for Patanjali is to replace all foreign imports with ‘swadeshi’ (locally made) products. It is one of the reasons why the massive FMCG company has its fingers dipped in nearly every business from food to clothing to power to private security. It even has projects going in the <a href="https://theprint.in/tech/how-ramdevs-patanjali-ayurved-made-a-secret-tech-entry-with-its-own-it-start-up/369203/">cloud services and IT solutions space.</a> <div type="image" title="balkrishna2_edited" msid="81295070" hostid="261" caption="&amp;lt;p&amp;gt;Acharya Balkrishna announcing the availability of Patanjali products across major online portals on 16 January 2018&amp;lt;/p&amp;gt;"></div> But luck was not on Patanjali’s side when the company decided to launch Coronil, its self-proclaimed cure for COVID-19. The claim has been disputed by many in the medical community including the World Health Organisation (WHO) and the Indian Medical Association (IMA). The state of Maharashtra has banned the sale of Coronil until it receives certification from the Ayush Ministry, which looks after all things ayurved, naturopathy, homeopathy, unani, siddha and yoga. For Balkrishna, this is not the first time that he has been caught on the wrong side of things. Balkrishna’s multi-billion dollar empire is not without its controversies Back in 2011, the Central Bureau of Investigation (CBI) filed a case of forgery and cheating against Balkrishna. <a href="https://www.businessinsider.in/small-business/people/fake-degrees-and-passports-here-is-the-real-story-of-acharya-balakrishna-ramdevs-close-aide-and-patanjali-ceo/slidelist/54365692.cms">According to the CBI</a>, the degree that Balkrishna got from the Sampurnanand Sanskrit Vishwavidyalaya in Varanasi was fake. And, it was on the basis of this fake degree that Balkrishna had procured his passport. The administration of the university also <a href="https://www.business-standard.com/article/beyond-business/the-rise-and-fall-of-balkrishna-111073000065_1.html">claimed</a> that they had no record of ever giving Balkrishna a degree. However, the case was closed two years later due to lack of evidence. In 2012, the Enforcement Directorate (ED) also filed a case against Balkrishna over money laundering charges. These were dropped after the National Democratic Alliance (NDA) came into power in 2014. <div type="image" title="6738550d3499f71f5dbe014dfcd955bd_edited" msid="81295019" hostid="261" caption="&amp;lt;p&amp;gt;Acharya Balkrishna (L), Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat (C), and Baba Ramdev (R) in conversation during an RSS program in Haridwar in 2014&amp;lt;/p&amp;gt;"></div> Balkrishna holds 94% stake in Patanjali but he does not take home a salary, according to the <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/how-acharya-balkrishna-built-a-multi-crore-company/built-for-success/slideshow/60853399.cms">Economic Times</a>. He claims to work 15 hours a day, regardless of whether it is a Sunday or any other holiday. According to financial data accessed by business intelligence firm <a href="https://www.business-standard.com/article/companies/patanjali-ayurved-s-revenue-and-profit-rise-but-still-far-from-glory-days-120111301248_1.html">Tofler</a>, Patanjali reported a net profit of ₹423 crore for FY20. But, even with that positive growth, Patanjali is far from its glory days of yore where its revenue used to double year-on-year. The company has been facing issues since the goods and services tax (GST) was introduced in 2017, disrupting its operations. Patanjali also <a href="https://www.livemint.com/companies/news/patanjali-ayurved-completes-acquisition-of-bankrupt-ruchi-soya-for-rs-4-350-crore-11576684912487.html">acquired Ruchi Soya in 2019</a>, which placed further burden on its financials. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/ritesh-agarwal-kishore-biyani-and-acharya-balkrishna-net-worth-went-down-in-year-2020-as-per-hurun-list/slidelist/81293374.cms">OYO’s Ritesh Agarwal and Future Group’s Kishore Biyani did not make the cut this year to be among India’s richest billionaires</a> <a href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-naveen-jindal-anand-mahindra-and-kumar-mangalam-birla-increased-their-net-worth-in-2020/slidelist/81290572.cms">Gautam Adani, Naveen Jindal, Anand Mahindra and Kumar Mangalam Birla increased their net worth despite COVID-19 wreaking havoc</a> <a href="https://www.businessinsider.in/tech/news/top-10-tech-billionaires-in-india-as-per-hurun-rich-list-2021/slidelist/81287575.cms">Top 10 tech billionaires in India — Shiv Nadar saw his net worth increase by $10 billion</a>

Patanjali’s Acharya Balkrishna is the biggest loser on Hurun’s Rich List of Indian billionaires

New Delhi, Dec 18 () Yoga guru <keyword id="6355107" type="UNKNOWN" weightage="20" keywordseo="Baba-Ramdev">Baba Ramdev</keyword>'s <keyword id="6406649" type="UNKNOWN" weightage="20" keywordseo="Patanjali-Ayurved">Patanjali Ayurved</keyword> on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold. Sources said Patanjali settled Rs 4,350 crore of dues Ruchi Soya had towards financial creditors by infusing Rs 1,100 crore equity and arranging another Rs 3,250 crore via debt.
 The acquisition of Ruchi Soya by Patanjali Ayurveda has been completed, sources said, adding that the amount has been transferred to an escrow account and disbursals to financial creditors are in process.
 When contacted, Patanjali Ayurveda spokesperson S K Tijarewala said: "We have completed all the formalities and the entire amount of debt and equity has been deposited. Now, officially Ruchi Soya has become Patanjali group firm."
 In December 2017, the National Company Law Tribunal (NCLT) ordered start of insolvency proceedings against Ruchi Soya on application of Standard Chartered Bank and DBS Bank. Shailendra Ajmera, part of consultancy firm EY, was appointed as resolution professional (RP).
 Ruchi Soya is the second big insolvency case to be completed this week. World's largest steel maker ArcelorMittal together with Japan's Nippon Steel on Monday completed the acquisition of Essar Steel for Rs 42,000 crore.
 Both the companies were taken to insolvency court over unpaid dues of lenders. Their bankruptcy proceedings had been pending for two years. Their resolution will help lenders such as State Bank of India clear a good part of bad loans, sources said.
 Japyee Infratech, which built the country's first road expressway that is wide enough to land fighter jets during emergency, is also headed towards resolution with lenders on Tuesday accepting the offer of state-owned NBCC Ltd. The deal is slated to close in coming months.
 In April 2019, Patanjali Ayurved had received approval of financial creditors to acquire Ruchi Soya. The NCLT gave its nod to the resolution plan in early September.
 But later, the Singapore-based DBS Bank became a dissenting creditor and approached the NCLAT challenging the distribution of proceeds from the bid submitted by Patanjali Ayurveda.
 Earlier, Ruchi Soya had informed in a regulatory filing that resolution applicant Patanjali group will infuse Rs 204.75 crore as equity and Rs 3,233.36 crore as debt.
 The amount will be infused in a special purpose vehicle 'Patanjali Consortium Adhigrahan Pvt Ltd', which will be later amalgamated with Ruchi Soya.
 Another Rs 900 crore would be infused by the Patanjali group through subscription of non-convertible debentures and preference shares in the SPV. It will also provide credit guarantee of nearly Rs 12 crore.
 Out of the Rs 4,350 crore offered by Patanjali group, Rs 4,235 crore would be utilised to pay creditors while Rs 115 crore would be used for capital expenditure and working capital requirements of Ruchi Soya.
 As per the filing, Rs 4,053.19 crore would be paid to secured financial creditors, Rs 40 crore to unsecured financial creditors, Rs 90 crore to operational creditors, Rs 25 crore to clear statutory dues, Rs 14.92 crore to workmen/employees and Rs 11.89 crore to provide counter bank guarantee.
 Patanjali won the bid to acquire Ruchi Soya after Adani Wilmar, which sells edible oil under the Fortune brand, withdrew from the race citing significant delays in resolution process that led to deterioration of assets.
 Patanjali Ayurved had approached NCLT challenging the decision of Ruchi Soya's lenders to approve Adani Wilmar's takeover bid. Patanjali group had come second in the bidding process. MJH ANZ ABM

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14 Patanajali products that have been suspended

Ashmita Gupta

Government ‘sitting with its eyes shut’, says Supreme Court as Patanjali’s misleading advertisement case drags on

Kunal Kambli

Patanjali ads case: Supreme Court asks Ramdev, Balkrishna to issue public apology; says not letting them off hook yet

PTI

Patanjali’s Acharya Balkrishna is the biggest loser on Hurun’s Rich List of Indian billionaires

Prabhjote Gill

Patanjali Ayurved completes acquisition of bankrupt Ruchi Soya for ₹4,350 crore

PTI

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